An account in your own name
Hold pounds and euros in a payment account with an IBAN in your name. Pay on the rail that fits, and spend with a prepaid card you control.
Illustration. Names and figures are sample data.
What you get
Provided by MDRN-FX Services Limited, an FCA-authorised payment institution, FRN 540997.
Hold
A payment account with an IBAN in your own name, in pounds and euros.
- Pounds and euros side by side
- Live balances
- Funds safeguarded, never lent out
Move
UK, euro and cross-border payments, each on the rail that fits.
- Faster Payments for sterling, typically in seconds
- SEPA and SEPA Instant for euros
- SWIFT for everything further afield
Fee and arrival time shown before you confirm. Rail picker
Spend
A prepaid debit card, physical and virtual, that spends only what you load.
- A limit you set, for you or a family member
- Instant freeze from your phone
- Every transaction visible as it happens
Scheme, issuer, fees and limits confirmed before you order. About the card
Pounds and euros, under your own name
Get paid into an IBAN that carries your name, and keep both currencies in one place. When you pay someone, you see the rail, the fee and the arrival time before you confirm.
- GBP and EUR accounts side by side
- Nothing moves until you say so
- No overdraft and no credit, so there’s nothing to borrow and no interest
Illustration. Names and figures are sample data.
Who can open one, and what we ask for
Personal accounts are for individuals, opened in your own name. We ask once, and we do it properly.
- Your name and address
- Proof of address
- An identity document
- A clear description of your money flows: who pays you, who you pay, in which currencies and roughly what volumes
Talk to us
Call, WhatsApp or send the form. Tell us what you need, which currencies you deal in and what you want to pay. No obligation.
We say yes or no, plainly
If an account, payments or a card fit, we tell you which, what it costs and what we need from you. If we can’t help, we say so.
Onboarding
Identity, address and sanctions checks, plus company and ownership checks for businesses. Run once and properly.
Go live
Your account, rails and card are switched on. The same team stays your point of contact.
Not a bank account, and we’ll always say so
This is a payment account with an FCA-authorised payment institution. Money in it is safeguarded, held separately from our own funds and never lent out. There’s no overdraft and no credit. It is not covered by the FSCS.
Bank, e-money institution (EMI) or payment institution: the difference
- Opened for
- Individuals, in their own name
- Currencies
- GBP and EUR
- Payments
- Faster Payments, SEPA, SEPA Instant, SWIFT
- Protection
- Safeguarded under the Payment Services Regulations 2017. Not covered by the FSCS.
- Credit
- None. No overdraft and no lending.
Personal account questions
What is the difference between a personal and a business account?
The account itself works the same way: an IBAN in pounds and in euros, in the account holder’s name. A business account is opened in the name of a company or sole trader and needs business documents. A personal account is opened in an individual’s own name. See business accounts and personal accounts.
What documents do we need to open an account?
For a limited company: certificate of incorporation, the ownership structure down to the beneficial owners, and ID for directors and owners. For a sole trader or an individual: your name, address, proof of address and an identity document.
How is my money protected?
Funds received for a payment are safeguarded under the Payment Services Regulations 2017, held separately from our own funds and never lent out. Payment accounts and the prepaid card are not covered by the Financial Services Compensation Scheme.
Is Alpha Transfers a bank?
No. Alpha Transfers is a trading name of MDRN-FX Services Limited, authorised by the Financial Conduct Authority as a Payment Institution, firm reference number 540997. Money we receive for a payment is safeguarded, held separately from our own funds, rather than protected by the Financial Services Compensation Scheme. We don’t lend or offer overdrafts.
Ready when you are
Tell us what you do and where your money moves. You’ll get a plain answer on whether we can help.